Itron, Inc. (NASDAQ:ITRI) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Itron, Inc. (NASDAQ:ITRI) by 41.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,728 shares of the scientific and technical instruments company’s stock after purchasing an additional 83,328 shares during the period. Victory Capital Management Inc. owned about 0.63% of Itron worth $30,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its holdings in Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. Quarry LP raised its stake in shares of Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Covestor Ltd lifted its position in shares of Itron by 26.1% during the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 111 shares during the last quarter. GAMMA Investing LLC grew its stake in Itron by 46.6% in the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after purchasing an additional 229 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 129 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. This trade represents a 20.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,276 shares of company stock worth $4,517,947. 1.45% of the stock is owned by corporate insiders.

Itron Price Performance

NASDAQ ITRI opened at $114.90 on Friday. The stock has a market capitalization of $5.18 billion, a P/E ratio of 23.55, a P/E/G ratio of 0.89 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The business’s fifty day moving average is $107.85 and its two-hundred day moving average is $104.54. Itron, Inc. has a 1 year low of $64.96 and a 1 year high of $124.90.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. The company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. Itron’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, research analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ITRI has been the subject of several research reports. Janney Montgomery Scott assumed coverage on Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 target price for the company. Oppenheimer lifted their price objective on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Roth Mkm increased their target price on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Guggenheim lifted their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Piper Sandler increased their price objective on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Itron presently has an average rating of “Moderate Buy” and an average price target of $123.92.

Itron Company Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.